Skip to main content

Coinbase to acquire Skew crypto data analytics platform

Some of Skew’s institutional clients include One River Asset Management and Susquehanna International Group.

United States cryptocurrency giant Coinbase has acquired institutional-grade blockchain data analytics platform Skew.

Greg Tusar, vice president of institutional products at Coinbase, announced the news Friday, stating that the new acquisition will help customers make more informed trading decisions by using real-time data analytics.

“We’re excited to integrate skew’s data analytics platform with Coinbase Prime, allowing our customers to track cryptocurrency spot and derivatives markets in real-time. With skew, we’ll arm professional traders with dynamic, aggregated market data, presented in a highly actionable format, all within our market leading prime brokerage,” Tusar noted.

The acquisition is part of Coinbase’s broader strategy to serve institutional clients. According to Tusar, the exchange will continue to serve Skew’s institutional customers, which include One River Asset Management and Susquehanna International Group.

“While joining Coinbase represents an unparalleled opportunity for skew’s continued growth, we remain acutely focused on supporting our clients and working with our ecosystem partners. We believe our client commitment and offering will only be further enhanced by partnering with Coinbase,” Skew wrote in a Friday blog post.

The company noted that Coinbase has been a Skew client since it launched Skew Analytics two years ago. “We have not only developed a strong, positive relationship with the Coinbase team but have witnessed first-hand their impressive product-led culture, focus on compliance and commitment to the institutional space,” the firm said.

Headquartered in London, Skew was co-founded in 2018 by CEO Emmanuel Goh and chief operating officer Tim Noat with a mission to make crypto markets more transparent and drive institutional adoption. The company has seen rapid growth, accumulating more than 100 customers so far. Skew also established a bench with a mix of traditional financial services and crypto expertise with executives coming from major U.S. institutions such as JPMorgan, Goldman Sachs and Citi.

The news comes weeks after Coinbase went public on Nasdaq. Shortly after the listing on April 14, several Coinbase executives, including CEO Brian Armstrong and chief financial officer Alesia Haas, sold hundreds of thousands of COIN shares, netting millions of dollars.

Coinbase was actively acquiring companies before going public, though. In January 2021, Coinbase acquired Bison Trails, a fully managed blockchain infrastructure provider, in order to secure a “foundational element” within its growing ecosystem of products. The deal reportedly cost Coinbase around $80 million. Previously, the firm acquired trading execution startup Routefire to further improve its Coinbase Prime suite of tools and services.



from https://ift.tt/3eDU2Bg
https://ift.tt/336dzEU
Labels:

Comments

Post a Comment

Any questions, Please.

Popular posts from this blog

DeFi isn’t dead, it just needs to fix these 3 critical problems

It’s been a rough year for DeFi, and it may not get any better until projects focus more on security, regulation and usability. The persistent challenges  decentralized finance  face have been well documented by a handful of analysts and the recent collapse of the Terra ecosystem re-enforced the fact that something is critically wrong with DeFi. I think DeFi today is completely broken for 99% of the population. The promise of a more transparent financial system has been overtaken by greed. UST/LUNA is just the latest in a string of bad developments: — Peter Yang (@petergyang) May 11, 2022 Let's take a look at what experts say DeFi needs to do in order to have another revival.  Improved usability To date, the promise of open and uncensored access to a global decentralized financial system has been largely hampered by the complicated interface, confusing multi-step staking processes and lack of clarity surrounding the yields on various tokens. What do you thi...
Post a Comment
Read more

ENS DAO delegates offer perspective on DAO governance and decentralized identity

AlphaWallet CEO and Spruce co-founder talk about their roles as contributors to the Ethereum Name Service following the project's recent airdrop. Earlier this month, the Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.  Cointelegraph spoke to two ENS DAO delegates who applied for the opportunity to represent the community and stay involved in the decision making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized ID and data toolkit for developers. Zhang spoke about his experience as an external contributor to ENS and an early supporter since 2018. Zhang initially sought to help ENS by offering Alpha Wallet as a user-friendly tool for  resolving .eth names and cryptocurrency wallet addresses. Essentially, if a user inputs an .eth name in the AlphaWallet, it will show the wallet address, and vice versa using reverse resolution. Alpha...
Post a Comment
Read more

National Futures Association adds rules for members handling digital assets

The CFTC-linked self-regulatory organization (SRO) has disclosure rules for members engaging in activities with BTC and ETH; now, standards of conduct are being added. The National Futures Association (NFA), the United States self-regulatory organization for derivatives markets, has issued a new compliance rule addressing members’ conduct. The new rule complements requirements issued in 2018. The NFA has “well over 100” members that engage in activities with digital asset commodities, but no way to address fraud or misconduct committed by those members, the organization explained to secretary of the Commodity Futures Trading Commission (CFTC) Christopher Kirkpatrick in a Feb. 28 letter as it submitted the proposed new rule for approval. The new rule is modelled on the NFA’s antifraud rules for exchange traded futures and swaps transaction and retail foreign exchange. The NFA is the only registered self-regulatory organization that has delegated authority from the CFTC, giving it a...
Post a Comment
Read more